Assumption
Guide for Effective Benefits Management in Major Projects, published by the Infrastructure and Projects Authority in October 2017, defines an assumption as: ‘Something that is accepted as true but there is a lack of appropriate evidence to substantiate it.’
RICS Valuation – Global Standards, Effective from 31 January 2022, Published by the Royal Institution of Chartered Surveyors (RICS) in November 2021, defines an assumption as: ‘A supposition taken to be true. It involves facts, conditions or situations affecting the subject of, or approach to, a valuation that, by agreement, do not need to be verified by the valuer as part of the valuation process. Typically, an assumption is made where specific investigation by the valuer is not required in order to prove that something is true.’
It defines a special assumption as: 'An assumption that either assumes facts that differ from the actual facts existing at the valuation date or that would not be made by a typical market participant in a transaction on the valuation date.'
[edit] Related articles on Designing Buildings
- Appraisal.
- Contract.
- Contractor.
- Major project.
- Procurement.
- Supply chain.
- Tender.
- Value.
Featured articles and news
Specifying XPS in masonry cavity walls below DPC level
Moisture requirements, DPCs and third party certification.
Types of rigid foam insulation
A brief description and some of the main construction types.
Metal composite material panel systems MCM and MCP
Sandwich finishes, forms, details, core and their impacts.
Cumbria's vernacular architecture
A history of building impeded by unsettled times.
CIOB and MMC Ireland announce strategic partnership
For better working conditions, and a more productive construction sector.
More than just glass.
Grenfell Phase 2 final report for construction, at a glance
Twenty-three key issues raised and their recommendations.
Industry responds to the final Grenfell inquiry phase 2 report
Construction body responses to the long-awaited 7 volumes.
Chief construction advisers in brief
From July 2008 to November 2015.
The Grenfell phase 2 final report key summary points
And recommendations for the construction industry.
Approved Document B: Fire Safety upcoming updates
Including sprinklers in care homes, National classes and Fire resistance.
CIOB Podcast: 21st Century Construction
Catch up on the many previous episodes.
Tools and processes supporting a robust golden thread
BSRIA Handover Information and O&M Manuals guidance.
Industry survey highlights persistent skills gap
Building engineering business survey by ECA in partnership with BESA, SELECT and SNIPEF.
IHBC Conservation Professional Practice Principles
Spotlighted in HEF Historic Environment Overview.
CIAT collaborates with CIOB, CIfA, Icon to launch The Arc
Helping clients find specialist historic environment professionals.
Government building safety remediation data releases
Show some progress, but a 50% gap not yet started.
Testing For A Safer Future; an initial industry response
A response to the Independent Review of the Construction Product Testing Regime.
Requirements for UK buildings in certain circumstances.
Comments
[edit] To make a comment about this article, or to suggest changes, click 'Add a comment' above. Separate your comments from any existing comments by inserting a horizontal line.